Sonoco Unveils Commitment to Sustainability in 2024 Report
Sonoco's Commitment to Sustainability
Sonoco Products Company (NYSE: SON), renowned for its sustainable packaging solutions, has recently released its 2024 Corporate Sustainability Report. This report illustrates Sonoco's evolution towards even more sustainable packaging practices, especially after their strategic acquisition of Eviosys, a front-runner in metal packaging in Europe.
Integration of Eviosys for Enhanced Sustainability
The acquisition of Eviosys significantly boosts Sonoco’s sustainability impact and global operations, bringing an additional 6,300 employees and 45 facilities into its network across various regions. This merger solidifies Sonoco’s position as a leader in the metal and fiber packaging sectors, addressing the needs of some of the most recognized brands globally. Their notable efforts contribute to more sustainable packaging solutions, aptly summarized by their motto of Better Packaging. Better Life.
Innovative Energy Solutions
Sonoco has undertaken various investments in renewable energy and energy efficiency, making strides toward reducing its Scope 1 and 2 greenhouse gas (GHG) emissions by 25% from a 2020 baseline by the year 2030. Projects include integrating solar energy systems in multiple locations such as South Carolina, Texas, and Italy, alongside high-efficiency turbo blowers in the U.K. and Indonesia, and a biogas boiler installation in Indonesia.
Efficiency in Energy Use
In 2024, Sonoco launched 27 new sustainability initiatives, highlighted by an innovative Virtual Purchase Power Agreement with ENGIE North America, aimed at generating 140 megawatts of wind energy by the end of 2025. This approach has led to a remarkable 9.6% reduction in energy consumption, surpassing their initial goal of 8% by 2030. The adoption of intermodal transport in North America has further contributed to reducing CO? emissions by around 2,400 metric tons each year.
Eviosys' Achievements and Innovation
Now rebranded as Sonoco Metal Packaging EMEA, the integration of Eviosys has propelled the company towards greater sustainability objectives. The year 2024 marked a 26.3% decrease in Scope 1 and 2 emissions from their initial 2020 figures, earning Eviosys a prestigious EcoVadis Platinum rating for the second consecutive year, showcasing their commitment to environmental excellence. This year's achievements include the installation of five energy-efficient oxidizers that are projected to reduce natural gas consumption significantly while eliminating solvent emissions.
Packaging Innovations Promoting Sustainability
Sonoco's diverse packaging portfolio reveals a strong dedication to environmental responsibility, consumer convenience, and recyclability. Their Rigid Paper Container and lightweight, two-piece steel aerosol packaging designed for compressed-air dusters exemplify scalable solutions that enhance circularity. Furthermore, Eviosys has introduced the award-winning Ecopeel™, which minimizes material usage in food can construction, ultimately reducing carbon emissions by 20% and earning accolades at the 2024 Oscar de l’Emballage Awards.
Corporate Vision and Future Endeavours
The ethos of Better Packaging. Better Life. serves as a guiding principle for Sonoco’s operations, as stated by Howard Coker, the President and CEO. Sonoco's teams are consistently innovating, collaborating, and investing to create sustainable solutions for their customers and the planet, reflecting their dedication to a resilient future.
In conclusion, Sonoco is paving the way for a more sustainable packaging industry through its practices and innovations, ensuring a positive impact on communities and the environment alike. For those interested in exploring Sonoco's corporate sustainability efforts more deeply, the 2024 Corporate Sustainability Report offers extensive insights and information.
Frequently Asked Questions
What recent report did Sonoco release in 2024?
Sonoco released its 2024 Corporate Sustainability Report, highlighting its progress and future goals in sustainable packaging.
What major acquisition did Sonoco complete to enhance its operations?
Sonoco acquired Eviosys, a leading European metal packaging manufacturer, significantly increasing its sustainability footprint.
What are Sonoco's greenhouse gas emissions reduction targets?
Sonoco aims to reduce Scope 1 and 2 GHG emissions by 25% by 2030 compared to a 2020 baseline.
How has Sonoco improved its energy efficiency?
Through investments in renewable energy, such as solar installations and energy-efficient technologies, Sonoco has achieved a 9.6% reduction in energy use.
What sustainable packaging innovations has Sonoco developed?
Sonoco has developed several sustainable packaging solutions, including the Rigid Paper Container and Ecopeel™, which minimizes material usage and carbon emissions.
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